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Queensland Premier Annastacia Palaszczuk has moved to ditch the state’s debatable land tax after weeks of unfavorable exposure and refusals through different premiers to co-operate.

The tax, which used to be because of get started subsequent 12 months, would calculate an proprietor’s legal responsibility for land tax according to the whole price in their Australia-wide holdings that don’t seem to be exempt, now not simply the ones in Queensland.

It used to be anticipated to have an effect on roughly 10,000 buyers and recoup the Queensland govt virtually $20 million a 12 months from 2023–24. 

Then again, the tax met a wall of unfavorable remark from buyers and NSW Premier Mr Perrottet stated he would refuse to offer house proprietor knowledge to the Queensland govt.

“It is a tax applied through a state that affects the citizens of NSW. It’s unsuitable, and we’re now not going to conform to it,” the Premier stated.

The tax used to be identified to be turning buyers clear of Queensland {and professional} our bodies, together with CPA Australia, referred to as it a “income snatch”. 

Ms Palaszczuk is in Canberra for a countrywide cupboard assembly however a spokesperson for Queensland Treasurer Cameron Dick showed the land tax adjustments have been dumped. 

“The Treasurer stands through the whole thing he’s stated about land tax, however in fact he accepts the verdict the Premier has made after chatting with different leaders,” stated the spokesperson. 

Palaszczuk dumps debatable land tax

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Final Up to date: 30 September 2022

Printed: 30 September 2022

Philip King

Philip King

AUTHOR

Philip King is editor of Accountants Day-to-day and SMSF Adviser, the main resources of stories, perception, and academic content material for pros within the accounting and SMSF sectors.

Philip joined the titles in March 2022 and brings in depth enjoy from a lot of roles at The Australian nationwide broadsheet day-to-day, maximum just lately as motoring editor. His background additionally takes in spells on numerous shopper and industry magazines.

You’ll be able to e mail Philip on: This e mail cope with is being safe from spambots. You wish to have JavaScript enabled to view it.


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